Possibilities

iVillage Member
Registered: 06-13-2008
Possibilities
7
Sat, 11-29-2008 - 5:27pm

iVillage Member
Registered: 11-17-2007
In reply to: lamairs81
Sat, 11-29-2008 - 6:11pm

Nice dream but its not going to happen. Besides car and credit cards coming before Mortgages not a wise plan


Having sister and all move in and pay rent very good idea but your house always comes first on the list of things to pay and Wells Fargo I know feels the same way.


They may deal but not for year.


Good luck anyway


Mary Ann


iVillage Member
Registered: 06-13-2008
In reply to: lamairs81
Sat, 11-29-2008 - 7:00pm
iVillage Member
Registered: 01-25-2006
In reply to: lamairs81
Sun, 11-30-2008 - 11:23am

I will be very surprised to hear about a 12 mos forbearance on a mortgage, especially from Wells Fargo, who has proven to be one of the more stable banks through all of this crap. Not sure who your coworker has been talking to, but that seems to be in the category of "too good to be true". When I worked in student loans we only offered 6 mos at a time and then you had to reapply. I suppose it couldn't hurt to try but I wouldn't spend lots of time chasing it if you immediately start hitting walls.

I don't recognize your screen name so maybe I've forgotten your story but I would strongly recommend you make an appointment with a bankruptcy attorney this week and see what they have to say about your options. BK is the way you get protection from what you are describing with other creditors forcing you out of your home w/judgements, etc. There should be no charge for the consultation. I don't know what you are referring to on the 5/3 credit card. What is that?

I'm sorry you are facing such difficult circumstances at this time of the year. If you'd like to post more information/numbers, I'm sure we can come up with a laundry list of options that you might find helpful. The renters are a great option and should help you a lot in the long run.

Peg

iVillage Member
Registered: 06-13-2008
In reply to: lamairs81
Sun, 11-30-2008 - 2:16pm
iVillage Member
Registered: 06-13-2008
In reply to: lamairs81
Sun, 11-30-2008 - 2:22pm
iVillage Member
Registered: 01-25-2006
In reply to: lamairs81
Sun, 11-30-2008 - 3:41pm

I'm not sure what you mean when you mention the assets with the Chapter 7 bk. I hope Carolyn might chime in here but as far as I understand it, Chapter 7 would let you get rid of the dischargable debt and allow you to protect those assets. I hear you on the non-dischargable debt though...that is a bigger problem. If you haven't yet met with a BK attorney and have only met with the debt counselor, I stand by my recommendation to get with the attorney. It sounds to me like you need to understand more details, like what will and won't go away. I imagine you could negotiate payments on the taxes at the least.

Peg

iVillage Member
Registered: 03-17-2003
In reply to: lamairs81
Sun, 11-30-2008 - 3:53pm

Your information and suggestions are spot on Peg.


I would encourage pre-bankruptcy preparation.